Articles Posted in executives

The salaries of top executives at Fannie Mae and Freddie Mac are under attack with the introduction of a new Congressional bill. Rep. Ed Royce, R-Calif., is sponsoring legislation that would potentially cap executive salaries within these two companies, making them comparable to the salaries of officials within the government’s executive branch. This move is…

New legislation has been proposed that would increase the minimum salary basis level that employers need to pay as part of the requirements to avoid the overtime rules. Workers classified as executive, administrative or professional employees would have their weekly minimum pay more than doubled, and the floor for highly-compensated employees will increase too, by…

Massachusetts may soon introduce major updates to strengthen workplace rights. Lawmakers want to make employment laws clearer. They also aim to give employees fairer treatment and better mobility in the job market. Two crucial pieces of proposed legislation will be decided by July 31st.  The proposals include a hike in the minimum wage to $11.00…

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Non-competition agreements became common when companies wanted to protect goodwill, trade secrets, and confidential data. Still, many firms apply these contracts too broadly. Because of this, workers face limits that reach far past the original business purpose. A System That Creates Fear, Not Fair Competition Right now, non-competes stay legally enforceable in many states, including…

The Massachusetts Supreme Judicial Court has ruled that employees who make internal complaints regarding wage violations are protected against retaliation from their employers. These are the whistleblowing protections under the Wage Act. In Smith v. Winter Place LLC, 447 Mass. 363 (August 1, 2006), the Supreme Judicial Court reversed a lower court’s grant of summary…

A recent Massachusetts Superior Court case, O’Connor v. U.S. Art Co. Inc., held that the firing a minority shareholder by the majority shareholders in a closely held corporation was a dereliction of fiduciary duty, calling into question the applicability of at-will employment rules in this context. O’Connor and Lank formed an art transportation company, with…

The United States Department of Labor has issued rules revising the criteria used to determine whether employees may be classified as “exempt” (e.g., salaried) from the minimum wage and overtime pay requirements of the Fair Labor Standards Act (FLSA). These rules went effective August, 2004. The last significant change they made to these rules was…